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ESTATE OF HOOKS v. COMMISSIONER

Docket No. 45676.

22 T.C. 502 (1954)

ESTATE OF PAT E. HOOKS, DECEASED, JEANETTE HOOKS, INDEPENDENT EXECUTRIX, AND JEANETTE HOOKS, SURVIVING WIFE, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed June 8, 1954.

Attorney(s) appearing for the Case

Edward L. Wilson, Esq., for the petitioners.

J. L. Bailey, Esq., for the respondent.

OPINION.

TIETJENS, Judge:

The Commissioner determined a deficiency in income tax against petitioners in the amount of $3,825.36 for the calendar year 1950.

The sole issue for decision is the propriety of a claimed deduction of $13,103.81 representing interest on insurance policy cash and automatic premium loans which was unpaid up to the time of the husband's death, the policies having been purchased by the husband and the wife having been...

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